Core Insights - Thailand's new vehicle market experienced a significant rebound of nearly 54%, reaching 73,936 units in January 2026, compared to 48,092 units in January 2025 [1] Group 1: Market Performance - January marked the tenth consecutive month of growth for Thailand's vehicle market, following two years of declines due to financing challenges faced by consumers and small businesses [2] - Economic growth in Thailand accelerated to 2.5% year-on-year in Q4 2025, up from 1.2% in Q3, driven by stronger domestic consumption and investment [2] Group 2: Electric Vehicle Surge - The surge in vehicle sales was primarily attributed to a spike in electric vehicle (EV) deliveries before the expiration of the EV3.0 incentive program at the end of 2025, which has been succeeded by the EV3.5 program offering lower incentives [3] - Sales of battery electric vehicles (BEVs) soared by 354% year-on-year to 31,860 units in January, while hybrid electric vehicles (HEVs) sales increased by 19% to 12,650 units [4] Group 3: Production and Export Trends - Vehicle production in Thailand rose by 10.5% to 118,386 vehicles in January, while exports fell by 6.3% to 58,405 units, impacted by a strong baht and increased competition from Chinese automakers [5] - The Federation of Thai Industries has raised its 2026 vehicle production target to 1.5 million units, which includes 550,000 domestic sales and 950,000 exports [5]